What is the most efficient way to save energy and money? The internet is filled with top 10 list on how to lower your electric bill or how to save more energy so you have a smaller carbon footprint. Most of these lists are actions you can take in order to lower your electric bill. But what is the most efficient way to go about this? For example, if I replace my old windows with new ones, how much will I save in the long run? If I replace my furnace in order help the environment, what the reduction of CO2 in my carbon footprint?
This is the first part of 5 part series, starting with most efficient ways to save energy and money at home. This first part will include the actions you can take at home, on your own, without the help of government, that can lower your carbon footprint and energy spending. We listed the most common actions recommended by government, energy utility websites and scientists. We compared the scientific numbers with actual field results from surveys done by utility companies.
The best way to save energy and money has to be the most efficient way. Most of the list on the internet and government websites fail the public by not saving them any money or energy. Because they give tips that will not have impact on their bills or carbon footprint for a long time or not at all. Without further do, here is our list.
Most efficient Actions at Home
Action | Savings – Cost in 10 years |
Furnace Fan on change to auto | $9,058.13 |
Insulate empty attic bypass seal, 1000 ft2 | $3,529.07 |
2nd fridge get rid of / unplug A27 | $3,390.33 |
Insulate empty walls dense pack, 1000 ft2 | $2,552.66 |
Freezer get rid of / unplug | $2,264.53 |
Waterbed use quilted pad, no heat | $2,264.53 |
TV off when not used vs. background noise | $1,941.03 |
Replace thermostat with Smart Wifi thermostat | $1,611.63 |
Strategic Dense Pack in tricky homes | $1,588.04 |
Stereo off when not used | $1,552.82 |
Fix hot water leak | $1,494.00 |
Fans, drapes, etc. instead of Air Conditioning | $1,423.42 |
Setback Heat 8°F, 8 hrs/day | $1,384.60 |
Replace 15 bulbs with CFLs | $1,357.54 |
Turn off heat and close off unused rooms | $1,294.02 |
Security Lighting: motion detector | $1,082.27 |
Computer off when not used vs. screen saver | $1,035.22 |
Lower Heating Thermostat | $1,035.22 |
Air Seal using blower door | $943.40 |
Replace programmable thermostat with Smart Wifi | $641.11 |
Shorter/Fewer Showers reduce by 4 minutes/day | $388.21 |
Clothesline 1⁄2 of loads, 2x savings if electric dryer | $362.33 |
Power Strip: TV+ digital cable & satellite boxes | $349.39 |
Cold Wash Laundry 1⁄2 hot loads to warm/cold | $323.50 |
Power Strip: Computer+ | $323.50 |
Insulate attic: add to existing bypass seal | $299.92 |
Very low flow showerhead <1.8 gpm | $282.33 |
Humidifier unplug – not needed in tight home | $258.80 |
Replace old (pre-93) fridge | $164.62 |
Fans off when room is empty in summer | $155.28 |
Least Efficient Actions At Home
Action | Savings – Cost in 10 years |
Replace 15 old windows | -$28,352.15 |
Tankless gas water heater | -$3,776.41 |
Replace old furnace w/92+% avg. use | -$2,382.48 |
Cool Roof (white roof coating on flat) | -$1,517.61 |
Insulate attic: some existing no seal | -$570.60 |
Install Attic Fan | -$411.75 |
Replace old dishwasher | -$409.42 |
Tune Up Gas Furnace (annual) | -$247.05 |
Caulk/Weatherstrip Windows/Doors | -$211.77 |
Seal basement ducts unless big holes | -$211.77 |
Insulate basement ceiling 1000 ft2 | -$147.09 |
Replace old furnace w/92% if heat>1200 th | -$117.94 |
Replace old Clothes Washer1 load/day | -$94.19 |
Hot Water Pipe Insulation after first few feet | -$20.00 |
Use ceiling fan in winter | $0.00 |
Close Drapes on winter nights unless good seal | $0.00 |
Unplug cell phone charger | $12.94 |
Close refrigerator door quickly | $12.94 |
Keep refrigerator full, add water bottles, etc. | $12.94 |
Change furnace filters monthly vs. once per season | $32.35 |
Use carafe instead of coffeemaker warmer 1hr/day | $64.70 |
Clean refrigerator coils | $64.70 |
Cook with lids on pots | $77.64 |
CO2 Savings per Action
Action | Co2-10y |
Furnace Fan on change to auto | 42000 |
Replace old furnace w/92% if heat>1200 th | 32000 |
Insulate empty attic bypass seal, 1000 ft2 | 26000 |
Insulate empty walls dense pack, 1000 ft2 | 22000 |
Replace old furnace w/92+% avg. use | 20000 |
Strategic Dense Pack in tricky homes | 18000 |
2nd fridge get rid of / unplug A27 | 16500 |
Waterbed use quilted pad, no heat | 11250 |
Air Seal using blower door | 10000 |
Replace old (pre-93) fridge | 10000 |
TV off when not used vs. background noise | 9000 |
Replace thermostat with Smart Wifi thermostat | 9000 |
Replace old Clothes Washer1 load/day | 9000 |
Stereo off when not used | 7500 |
Fix hot water leak | 7500 |
Setback Heat 8°F, 8 hrs/day | 7500 |
Replace 15 bulbs with CFLs | 7500 |
Fans, drapes, etc. instead of Air Conditioning | 7150 |
Insulate attic: add to existing bypass seal | 7000 |
Replace 15 old windows | 7000 |
Lower Heating Thermostat | 6500 |
Security Lighting: motion detector | 6200 |
Freezer get rid of / unplug | 6000 |
Turn off heat and close off unused rooms | 6000 |
Computer off when not used vs. screen saver | 6000 |
Tankless gas water heater | 6000 |
Replace programmable thermostat with Smart Wifi | 4500 |
Insulate basement ceiling 1000 ft2 | 4000 |
Insulate attic: some existing no seal | 3000 |
Seal basement ducts unless big holes | 2500 |
Replace old dishwasher | 2500 |
Shorter/Fewer Showers reduce by 4 minutes/day | 1800 |
Clothesline 1⁄2 of loads, 2x savings if electric dryer | 1700 |
Very low flow showerhead <1.8 gpm | 1550 |
Cold Wash Laundry 1⁄2 hot loads to warm/cold | 1500 |
Power Strip: Computer+ | 1500 |
Caulk/Weatherstrip Windows/Doors | 1500 |
Humidifier unplug – not needed in tight home | 1350 |
Cool Roof (white roof coating on flat) | 1300 |
Power Strip: TV+ digital cable & satellite boxes worst | 1150 |
Fans off when room is empty in summer | 780 |
Cook with lids on pots | 350 |
Clean refrigerator coils | 350 |
Use carafe instead of coffeemaker warmer 1hr/day | 300 |
Change furnace filters monthly vs. once per season | 150 |
Unplug cell phone charger | 70 |
Close refrigerator door quickly | 50 |
Keep refrigerator full, add water bottles, etc. | 20 |
Use ceiling fan in winter | 0 |
Close Drapes on winter nights unless good seal | 0 |
Hot Water Pipe Insulation after first few feet | 0 |
Tune Up Gas Furnace (annual) | 0 |
Install Attic Fan | 0 |
How we made our list
Making the Best way to save energy and money took us months of resarch. We ended up with a list of actions you can take, the cost of those actions, saving from those actions and CO2 savings. But the results were not complete. Some actions take much longer to have an impact on savings, especially on big ticket items, like replacing household items. Others had an instant effect, like getting rid of a second freezer at home.
Also from a frugal point of view, what if you didn’t take the suggested action and put the money in your investment account instead. Because the cost of replacing a furnace, for example, you pay the money up front but you save money afterward. One dollar today worths more than One dollar tomorrow because of positive inflation. The trends of energy prices suggest the energy costs will be lower in the future as well. Therefore the list turned into How much you can save in 10 years if you take the following action. Because 10 years is good enough time to compare the results and some household items have 10 years warranty.
The Formula
The actual data contains the Action, the Cost, Savings per month, Savings per year, CO2 savings per year, Savings in 10 years adjusted for inflation and put in an investment account monthly, Co2 saving in 10 years, Cost if the money was put in an investment account instead of doing the action, Efficiency in 10 years(Savings minus Cost adjusted for inflation and put in an investment account). We also made tables for 20 years and 30 years as well. Very few household items last this long for example replacing windows.
The Data and Resources
We used the following data to calculate the real cost and saving of actions taken determining the best way to save money and energy at home.
Fidelity 500 index fund 5 years average 12/2/2016 | 14.35% |
Fidelity 500 index fund 10 years average 12/2/2016 | 6.82% |
Heating 400-1200 th/yr, average | $1,500 |
Hot water, dryer, stove 150-250 th/yr | $400 |
Electric 300 – 900 kWh/month for lights, appliances etc | $1,500 |
CO2 | 1.3 lbs/kWh |
U.S. Real Inflation Rate College tuition index 10year | 5% |
Real return on investment S&P 500 all time average | 5% |
Real return on investment Fidelity 500 10year | 1.82% |
Real return on investment Fidelity 500 5year | 9.35% |
Average Carbon Footprint CO2/year per American | 88000lbs |
S&P 500 all time average 12/2/2016 | 10.13% |
U.S. Average annual energy price increase nominal 10y | 2% |
U.S. Average annual energy price increase real 10y | -3% |
- EPA’s Energy Star site http://www.energystar.gov/index.cfm?c=home_improvement.hm_improvement_index
www.energystar.gov/index.cfm?c=diy.diy_index - Affordable Comfort Inc. national & regional conferences for efficiency contractors, researchers, and policymakers
www.affordablecomfort.org many handouts from conferences available free - Home Energy Magazine www.homeenergy.org good archive of older articles on wide variety of topics
look up your refrigerator’s rated usage at http://www.homeenergy.org/consumerinfo/refrigeration2/refmods.php - ACEEE (American Council for an Energy-Efficient Economy) Technical resource and advocacy group
www.aceee.org/consumerguide/ - Advanced Energy (North Carolina) good building science knowledge library, but the southern orientation
www.advancedenergy.org/buildings/knowledge_library/index.html - Building Science Corporation (Westford, MA) Extensive info about how houses work, how they fail, how they should be built, etc..
www.buildingscience.com Berkeley CoolClimate Calculator – CoolClimate Network http://coolclimate.berkeley.edu/calculator
- Lawrence Berkeley National Laboratory https://emp.lbl.gov
I was looking for a list like this forever, thank you very much. Can you make a list of Savings off my electric bill monthly?
These numbers are higher than what you would expect because they put the savings in a 10-year index fund with a 7-14% return. This is a good way to determine what savings would be retrospective; I’d like to see the data without the investment/inflation calculations.
It’s a very thorough post, so it’s cool to see the realized savings after the average cost of energy and inflation is adjusted. Cool idea, but I think many people just care about what their average electric bill is and would be without the extra variables.
Also, I’d like to see what some of these mean. For example: “Waterbed use quilted pad, no heat” and “Power Strip: Computer+”. I have an idea of what this means, but I’m not 100%